Atlanta Real Estate Buyers Guide | Wants vs. Needs

You’ve watched HGTV. Or leafed through Atlanta Magazine. Or attended a ton of open houses. And now you have YOUR vision of YOUR dream home! But as you start the search for “the one,” we have to start to look at Wants vs. Needs.

When you start shopping for your new (or next) home, you have to look at what you really NEED in your home, and what you WANT in your new home. By determining what you NEED in your next home ( 3 bedrooms, 2 bathrooms, fitness center, off street parking, fenced yard, etc.) this will help both of us as we narrow down what homes to look at. So let’s talk about Wants vs. Needs.

NEED (The Requirements The Home Must Have)

Location — Close to work, shopping, schools, or transit

Bedrooms/Bathrooms — Maybe you need them for family, guests or a home office/studio

Style — Condo vs. townhome vs. single family home. This goes back to location as well. Some locations won’t offer a high-rise condo, or the single family home options may be to expensive. (Think a condo on Peachtree Street in Midtown vs. a single family home in Brookhaven or Chamblee).

When purchasing your new/next home, think long term as well. If you are planning to stay in the home for several years, will the home “grow” with your needs. In other words, it will still be big enough in the future without having to make major renovations or add on. On the opposite side, if you think it may be a shorter stay, then location and price will be big factors in your ability to sell in a couple of years.

WANTS (Those things you have on your Wish List)

This is the wish list. If you can have it all, your home would include the Needs from above and this list of wants. They are a personal as you are. From a three-car garage, to a spa master bath, private yard, the list can go on…and on…and on! But these are the things that you can live with out if your requirements have been met.

Keep in mind, these lists are going to vary, and some things will become interchangeable between them. You might have had Intown Atlanta neighborhood or city like Chamblee or Brookhaven (living Inside the Perimeter – ITP) as a requirement. But as you search for the perfect home, one might show up in a different location. As your real estate agent, it’s my job to show you the options that fit your Wants and Needs. I often say that your list of homes is like a funnel. There are numerous choices as we start, but then we narrow them down for various reasons and out of the funnel comes the 5-10 (or whatever the number may be) homes for us to look at. And it could be 5 Midtown Atlanta and 5 Buckhead condos if you are buying a condo. Or it could be 5 homes in Huntley Hills and 3 homes in Oak Grove and and then maybe 5 new townhomes in a certain neighborhood.

All of this is what makes working with a Home Buyer such a fun job for me! I like going through the various homes and condos, and as we do, I listen, and take notes. I see and hear what you like and don’t like, and along with the above Wants vs. Needs, I start to “build” your home in my mind. Then as I do additional searches, I’ve got a good idea of what you are looking for.

When I work with a Home Buyer looking at Atlanta Real Estate, I usually always try to preview all the homes I’m going to show you before you ever see them. If we have already been out shopping, some of my previews will quickly remove a home that I thought might have been a potential for you. But, we always review all of them, because there might be that one thing a home has (need) that will trump the want.

But as we work together, I get to know you and understand what you are looking for, and together, we’ll find that perfect home.

Next time, we talk about the process of looking at homes, or “Let’s Go Shopping!”

Looking for a particular article in our Atlanta Real Estate Buyer’s Guide? The entire series is noted below. (If a link is not active, we are still working on those articles!) You can always call me at 770.713.1505 or E-Mail me with ANY questions you have about the home buying process. I’m here to help you!

Thom Abbott

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